The Boeing Company $BA Stake Increased by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

Key Points

• FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Boeing by 18.0%, owning a total of 24,583 shares worth approximately $5.15 million as of the latest SEC filing.
• Several hedge funds have recently adjusted their positions in Boeing, with a significant 243.8% increase in holdings from the Canada Pension Plan Investment Board during the first quarter.
• Analysts have given Boeing a consensus rating of "Moderate Buy" with an average price target of $230.77, reflecting positive sentiment in the market despite a recent earnings miss.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 18.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,583 shares of the aircraft producer's stock after buying an additional 3,743 shares during the quarter. Boeing comprises 1.1% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH's portfolio, making the stock its 21st biggest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Boeing were worth $5,151,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BA. Kingstone Capital Partners Texas LLC acquired a new position in Boeing during the second quarter worth $378,459,000. Vanguard Group Inc. increased its position in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock worth $11,197,468,000 after buying an additional 1,212,327 shares during the last quarter. GAMMA Investing LLC increased its position in Boeing by 19,333.1% during the first quarter. GAMMA Investing LLC now owns 997,888 shares of the aircraft producer's stock worth $170,190,000 after buying an additional 992,753 shares during the last quarter. Strs Ohio acquired a new position in Boeing during the first quarter worth $98,984,000. Finally, Canada Pension Plan Investment Board boosted its holdings in Boeing by 243.8% during the first quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer's stock valued at $128,689,000 after acquiring an additional 535,060 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on BA. Bank of America upped their price target on shares of Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Rothschild & Co Redburn upgraded shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price target for the company in a report on Friday, June 27th. Susquehanna restated a "positive" rating and set a $270.00 price target on shares of Boeing in a report on Monday, September 15th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Finally, Morgan Stanley restated an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $230.77.

Boeing Stock Performance

NYSE BA opened at $221.28 on Monday. The firm has a 50-day simple moving average of $226.53 and a 200 day simple moving average of $203.45. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69. The stock has a market cap of $167.32 billion, a PE ratio of -13.40 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same period in the previous year, the firm posted ($2.90) EPS. The business's revenue for the quarter was up 34.9% compared to the same quarter last year. Research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Transactions at Boeing

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.

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